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money. and the average person needs that $2,000 in his pocket to drive the economy. saying that tax breaks for the rich drive consumers lower down to spend is like saying you could start your car by pouring gasoline on the hood. there's no proof, there's no factual data to support it. it's completely a sham to say that. >> and he's a business owner. we need more members of congress to sound like that. if the president is trying to achieve solidarity on raising the top tax rate, these are the voices that can come through for them with that message in a big way. an owner of an automobile supply company says she supports the plan even if it means her own personal rates will go up. . >> i would have higher tax rates, but r more important and more crucial, the middle class would be spending about $3,000 more. >> harry reid kept the focus on the president's winning campaign message of letting the tax cuts expire on incomes over $250,000 a year. >> the people who have done so well during this difficult time with the economy, the richest of the rich are going to have to pay a little more to
't think that raising tax rates is something that's good for this economy, that will help grow jobs. and so what we have said is there are ways for the federal government to have more revenue if we grow this economy and engage in tax reforms. >> every economist i respect says if you raise tax rates at this time -- in fact the president said that a couple years ago -- that it harms the economy. we're trying to help the economy. and so unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and grounds for my position. >> the truth is this country does not need to go through this fiscal cliff, which is fundamentally a huge tax increase and very little spending cuts. we're favoring a huge automatic tax increase that needs to be changed. >> bottom line we can't go off the fiscal cliff. democrats have harry reid. we have mitch mcconnell. get them in the room. no one gets all they want. if reagan and o'neill could do it, obama and boehner should be able to do it. >> it's the right approach, the one most beneficial for our economy, that protects t
that could very well damage the economy. but the air of compromise among some notable republicans is definitely grabbing attention. the republicans' comments quickly caught fire. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed and the economic situation is different. >> i'm not obligated on the pledge. i made tennesseans aware, i was just elected, that the only thing i'm monitoring is the oath that i take when i serve when i'm sworn in this january. >> reporter: gop lawmakers bluntly stating to alert the fiscal cliff, they're ready to break from grover norquist and the pledge he's got most republicans to sign to never raise taxes. norquist waste nod time hitting back on cnn's s"starting point" >> it doesn't pass the laugh test. if you want to go to your voters and say, i promised you this and i'm breaking that problem, you can have that conversation with them. but you don't have an argument with me. you've made a c
return to a normal economy that returns about 18.5%, that would increase revenue an additional over $400 billion per year, that's $750 billion of revenue per year through economic growth. and the president, his proposal would raise 1/10 of that but would put at risk the economic growth and that $750 billion. so -- >> sir, with all due respect, though -- >> counterproductive. >> that's an answer to the question. there's nothing you see over the next 35 days that would have you break that pledge with grover norquist? >> no, because raising taxes harms the economic growth. you get ten times the revenue by economic growth rather than punishing success. and, again, all of us are saying president obama, show us your plan for restraining the size of government, that's the main problem. again, his revenue proposal would raise $68 billion when we have over $1 trillion worth of deficit. where's the other $1 trillion in his balance plan? mr. president, show us your plan. >> sir, one thing, mitch mcconnell has said that revenue is on the table as long as entitlements would be on the table. conductin
.s. economy and millions of american families have been struggling with unemployment and underemployment, net sales for the walton family has grown more than $70 billion since the start of the great recession. now, a lot of those families in the bottom half struggling with underemployment are in fact walmart workers. a leaked internal document revealed that the base pay at the sam's club stores can be as low as $8 an hour. that's a mere $16,000 a year. with wage increases in drips and drabs as low as 20 or 40 cents per hour. one study found that walmart employees in california were nearly 40% more likely to use public assistance to make ends meet. costing the state's taxpayers $86 million annually. that means people with jobs in that state are still having to turn to the public safety net to get by. because working at walmart is not sustainable employment. if walmart became the standard across all retailers in california, taxpayers would have to subsidize their fellow workers with an additional $410 million a year. yet according to a study by the policy development and advocacy administration
a share so many in common -- an economy and larger value system. we share security needs and we share security threats. when you have a relationship that close, it cannot help but be good. it has been good. i look for to four more years of working with president obama. >> you just returned from asia. you seem dead like them in a little jet lag. >> president obama is in asia. his first trip when he was elected was here in ottawa. his first trip for his reelection was asia. you both you asia as important both of you are committed to enhancing free trade. you are looking at 50 trade deals. i wanted to ask you -- when our organization was founded 25 years ago, we were founded to be a proponent of free trade. there are not enough voices on either side of the border that point out the benefits. that is why we started it. my observation is that canadians are more open to free trade than americans. their message is of protectionism. what are your observations? what do you attribute the difference to? >> in negotiations on trade agreement -- we are and 50 to go she asians. one is with the euro
, we will ask a business expert what fewer shoppers means for the overall economy. rick: shifting gears now overseas, the hamas terrorist group is accusing israel of breaking the ceasefire rules agreed to only a couple of days ago, two days after a truce was reached along the israel/gaza border. the shooting death of a palestinian man today could threaten the already-fragile agreement. conor powell is live in jerusalem with the very latest. >> reporter: well, rick, given that the level of trust between israel and hamas is so low, expectations for this ceasefire were even lower. but it appears to have passed its first major hurdle. earlier today several hundred palestinians went to the border between gaza and israel, some reportedly there to check on land across the border in israel, others were, no doubt, hamas sympathizers testing the ceasefire. but as israeli trooped told them to back off from the border area, they refused, and israeli troops opens fire killing one palestinian. both israel and hamas accused the other ofhe ceasefire agreement, but neither side took steps to escal
at this time, in fact, the president even said a couple of years ago, it harms the economy. we are trying to help the economy. and, so, unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and ground for my position. but, i also believe that we can and must get an agreement, otherwise i think first of all, the markets are going to start reacting. >> chris: we'll talk about that in the next segment, and i think it is a real issue. finally, let's talk about the g.o.p. republicans, i don't have to tell you, had a really rough night on election night. and let's look at the break down of some of the numbers. you lost unmarried women by 36 points, hispanics, by 44 points. young people, by 23 points. does your party need to change, especially, with those groups, on social issues like same sex marriage and immigration reform? >> i think we have to have a bigger tent. no doubt about it. and, obviously we have to do immigration reform. there is no doubt whatsoever that the demographics are not on our side. and, we are going to have to give a muc
the economy going over the fiscal cliff. no mystery what the issues areu. the democrats know, republicans know and so does president obama. entitlements are pushing the country toward financial ruin. here is what the president said in 2010. >> the major driver of the long-term liabilities is medicare, medicaid and healthcare spending. nothing comes close. social security we could probably fix the same way tip o'neil and ronald reagan sat down together and we could figure something out. that is manageable. medicare and medicaid, massive problems down the road. that's where, that is what our children have to worry about. >> dana: here we are, two years later and still no plan. on the left in congress refusing to deal with that simple reality. vermont senator bernie sanders caucuses with the democrats. take a listen. >> i get nervous when i hear the president and others continue to talk about quote/unquote, entitlement reform. which is just another cut for medicaid and medicare and social security. >> eric: brian, start with you, today. >> dana: you look surprised. >> brian: i am. yet honored. >>
to then quickly craft a legislative deal that can stop the damage to the economy that would occur if we went off the cliff and stayed off the cliff. john boehner recognizes that the fiscal cliff is the president's leverage, but boehner believes he has leverage, too. politico reported this morning president barack obama made a demand of how john boehner near the end of their first white house meeting on the fiscal cliff, raised the debt limit before year's end. boehner responded, quote, there is a price for everything. boehner told president obama at the white house that the debt limit increase is quote my leverage. although he added that he's flexible on when it should be done. senator durbin said today that raising the debt ceiling must be part of any deal with republicans. >> i also think that the president isn't going to sign off on any agreement that doesn't include some certainty as to budgets, appropriations, dealing with our debt ceiling. we're not going to find ourselves with some big party celebrating in february and then turn around and march and have another doomsday scenario with the
economy, it would be good for our children's future. and i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. but -- the place where we already have in theory at least complete agreement, right now, is on middle-class taxes. and as i've said before, we have two choices. if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. starting january 1st, every family in america will see their taxes go up. a typical middle-class family of four, would see its income taxes go up by $2200. that's $2200 out of people's pockets. that means less money for buying groceries, less money for filling prescriptions, less money for buying diapers. it means a tougher choice between paying the rent and paying tuition and middle-class families just can't afford that right now. by the way, businesses can't afford it either. yesterday, i sat down with some small business owners who stressed this point. economists predict that if taxes go up on the mi
that are behind these numbers are relate primarily to the economy and as we all know the economy is still sluggish but there is improvement. >> aaa estimates that 40% of travelers left the day before thanksgiving and 36% returning today and 25% tomorrow. it could be a long journey home. this is what it looked like on the 405 on los angeles on the big get away day with traffic backed up for miles. and on thanksgiving morning as drivers headed out on i-10 east in beamont, texas. a husband and wife were killed and 100 injured and the trail of wreckage stretched for two miles. forecasters say more fog and snow in parts of the midwest and northeast could make it trougher getti tougher getting home after a long holiday weekend. >> reporter: again, as this afternoon goes on, we're going to see the traffic build on this road. about a 10% drop, alex, than they spent last year. >> michelle franzen there. here's a big question. will the weather cooperate for travelers out there? here with the travel forecast to answer that for us is dylan. >> most areas will cooperate. you're just dealing with the traffic as
will it do to our economy? >> i don't think it will do that much. i think people will assume a solution will be found quite promptly. it's a little like the debt ceiling question. people know -- the rest of the world may think we're idiotic at times but don't think we're going to commit suicide. so i think if -- i hope something gets worked out before january 1st. if it goes a little bit beyond that, i don't think -- >> if it's january 10th -- >> if you guaranteed me that the fiscal cliff, we would go past that, i wouldn't sell a share of stock today. >> you have confidence that in the end they will fix it? >> and that this economy works. >> he is confident of a deal huh? >> he really does. he believes there's a possibility -- he thinks it will take some time. first thing he wants to see is a minimum tax, which they can do now in terms of people who make more than a million dollars, minimum tax you have to pay it before you do the tax reform. too many competing interests to get it done immediately. interesting man. we'll have more from him. >>> to republican politics,
government it will pay for, regardless of the impact on jobs or the economy, or america's standing in the world. these are the ones who have recklessly ignored the fact that we can't keep running trillion dollar deficits every year and throw a tantrum if someone suggests that maybe the taxpayers shouldn't keep subsidizing ever last program washington ever dreamed up. they are reckless and ideological approach threatens our very future. and anyone who is serious about solving the problems we face should ignore all of that starting with the president. megyn: meantime some of the president's supporters unleashed and ad blitz targeting key lawmakers reportedly spending close to $300,000 on an ad buy that talks about increasing taxes but leaving spending alone. here is part of that. >> how do we move our country forward and reduce the deficit, by creating jobs and growing our economy not by cutting programs that families rely on most. megyn: join me now is stu varney, who is host of varney & company. and chris stirewalt. you have all the unions unleashing and ad blitz to target the home
that would avoid that potentially devastating fiscal cliff that is looming over the u.s. economy right now. the president is meeting with small business owners at the white house today. he had a series of meetings with different business leaders over the last week. despite the warnings that the talks are stalling on capitol hill stuart varney joins me now, host of "varney & company" on fox business network. >> good morning, martha. bill:. martha: what are you hearing how this is going? >> it is impasse basically. the republicans said yesterday they accommodated the democrats they will agree to get more money from wealthy people from higher taxes but mitch mcconnell, senate republican leader, he says there has been no similar compromise from the democrats or the president. he says they are still holding out for higher tax rates on the rich and he says the radical left is prescenting the democrats and president and agreeing to serious reform from medicare. martha, i have to tell you. i got new numbers from medicare, from trustees, actually. medicare has to pay out in the future $42 trillion.
to cripple the syrian economy. eight round-trip flights between moscow and damascus delivering more than 200 tons of, quote, bank notes into syria. u.s. and european sanctions include a ban on syrian currency in an attempt to slow the violence that's killed thousands of people. syria and russian officials have so far not responded to the reports. >>> overseas tens of thousands are rallying today in cairo's tahrir square protesting what they view as a blatant power grab by president mohamed horsey. with tensions mounting yesterday, morsi appeared to soften his controversial attempt to award himself near absolute power above the reach of the law. in a vaguely worded statement, morsi spokesman backtracked slightly saying that only acts of sovereignty would be immune from oversight. >>> well, u.s. consumers went big this weekend for small business saturday. millions of holiday shoppers spent a total of $5.5 billion during the third annual local business shopping event. mika spent half of that in the south of france. and that's not even counted in that tally. for more on the holiday shopping seas
is getting his economy back on track and to do that he needs the help of the international community and the united states. so he's got to carefully try to balance these two issues. i think he recognizes that a conflict along, you know, egypt's border with israel is not in egypt's interest any more than it's in israel's interests. so -- but these are people who have long been in opposition and they're having to learn to balance these political calculations as they go forward. >> right. and there's no rest after election day when you're the active president. p.j. will stay with us as we turn to another discussion right on point with president obama's foreign policy team. many republicans are attacking ambassador susan rice, a top candidate to replace secretary of state clinton. the senate has spiked some key nominations from president obama before, from elizabeth warren to nobel peace prize winner peter diamond. there is one number that suggests obama is likely to win this battle. we will look at the math after the break on "now." so you say men are superior drivers? yeah. then how'd
the election, his number-1 priority will be jobs and the economy. we agree with that. but your number-1 priority is jobs and the economy you don't grow the economy to create jobs by raising taxes on small businesses, the people who create the jobs. >> white house press secretary today, jay carney said when he was asked when the next meeting would be, the answer was, it would come, quote at the appropriate time. >> well, nobody know what is that means -- >> no! that's my point. is that -- is that, you know -- look, all of have you had a vacation, i refer, to while you are campaigning the last 3 months. have you known about this fiscal cliff for a year and-a-half. now the president's going out, friday, to do, as you say, campaigning. the press secretary says there will be a meeting between the leaders at the appropriate time. that seems like it's right now. >> it does. to me, what you are seeing with the president and the democrats, is sort of an attempt to run out the clock. i think they think they gain leverage if the pressure builds. you are hearing a lot of prominent democrats saying,
that a couple of years ago -- it harms the economy. we're trying to help the economy. unless i'm convinced raising tax rates will be beneficial, obviously i think there's reason and grounds for my position. i also believe that we can and must get an agreement, otherwise i think first of all the markets are going to start reacting. >> chris: we'll talk about that in the next segment. finally the g.o.p. republicans had a rough night on election night. let's look at the breakdown of the numbers. you lost unmarried women by 36 points. hispanics by 44 points. young people by 23 points. does your party need to change, especially in its outreach to those groups on social issues like same-sex marriage and immigration reform? >> we have to have a bigger tent. no doubt about it. obviously we have to do immigration reform. there's no doubt whatsoever that the demographics are not on our side and we have to give a much more positive agenda. it can't be just being against the democrats and against harry reid and against obama. you have to be for things. we have to give them the contract with america th
, and they're not interested in raising taxes, they think it is a bad idea for the economy. the only way to have a stimulus to the private sector is to leave more money in the private sector. the other thing that folks in kentucky don't understand is that why is it a fiscal cliff to cut spending? most people in our state think we're spending too much money up here and we should cut spending. in fact, the majority of congress voted for this sequester. why was it a good idea a year ago and now it is not a good idea. >> on spending and spending cuts, you may have something in common with the president, which i want to get to. you mentioned the people in your great state of kentucky and, look, we know and we're all hoping they're out and about shopping, it is holiday season, and in terms of the timing with this -- with this deal, you know, hopefully getting done before january 1, a lot of people want to avoid the tax increase that will automatically happen as people are paying those holiday bills, right? >> here's my question. if it is bad to raise taxes on everyone, why is it good to raise
's not completely signed and stamped yet. the economy won't go into recession on january 2nd. >> really? j is that because so many people say that it will, jared. why do you think it won't? >> okay. because people conflate going over the cliff with going over and staying over the cliff and they're different. this is actually right out of the congressional budget office's document that many folks are quoting from including you guys just a second alg. the cbo prediction of a recession and unemployment going up to 9% is a scenario in which we go over the cliff and stay over the cliff for all of 2013. if we go over the cliff and we're able to essentially take away the kinds of very sharp tax increases and spending cuts that kick in right away, pretty quickly, say within a month or so, then it's not going to be great for the economy by any means but it won't be recessionary. >> jared, let's say that -- do you think the possibility of a stopgap, something that gets done to partially keep us from going over the cliff so we're just like hanging there at the beginning of the year and then we finish
taxes which we think would be harmful to the economy. and if you look at how much revenue that raises, $68 billion next year, that funds a government for less than a week. and it does potential significant harm to the economy and raises taxes on the very people we are asking to go out and create jobs. >> dick durbin says when you're talking about entitlement reform or cuts in spending for medicare, medicaid for example, he says that's too complicated now. listen to what he said this morning. >> when it comes to medicare, we know that it's going to run out of money in 12 years. whatever changes we want to make should be thoughtful changes not made in the heat of the fiscal cliff. >> can you defer medicare for example -- medicare reform until after you get a deal on the fiscal cliff? >> well, if we do that, wolf, i think what you have to do is also defer the issue of taxes. i think you extend tax rates some time into the foreseeable future whether that's six months or a year and allow us to go through the process where we can deal with entitlement reform and tax reform in regular order.
cut down the economy. our friend, not warren buffett but the other guy. a great conversation, ralph nader has been by. years ago -- >> what did he learn from his -- >> did me a favor of not bothering me with his problems which was great that spin too much time trying to make money. >> a useful friends with him? >> i never said anything about him. >> as we go, you have an unusual hobby. you, something unusual. >> i have a collection of backers. also have a collection of airsickness bags. one thing i do ask people who come to the meeting, very helpful if you are traveling, you have an airsickness bag which the free present government afghanistan air sickness bag, so it is a great collection and somebody mentioned years ago in a profile starting in an e-mail, this is -- and odd quirky thing i did. >> what is the mood at the meeting going to be? >> people are very optimistic. people were disappointed because we didn't have the house senate president and then people thought we were going to get the president in the senate and stock didn't go up. we elected a house stronger than the last
. >> grow this economy and engage in tax reform. >> simplify the code. >> ywhen you get divorced, thats what happens. ♪ >> welcome back after the thanksgiving holiday and all eyes are on the fast approaching fiscal cliff with republicans possibly maybe looking to make a deal. with the deadline now just 36 days away, some top republicans suggest they could, shock, horror, break with their sacred pledge to grover norquist. >> i'm not obligated on the pledge i made tennesseans aware is just elected that the only thing i'm honoring is the oath that i take when i serve when i'm sworn in this january. >> there's a lot that has been said about this pledge, and i will tell you when i go to the constituents that have elected -- re-elected me, it is not about that pledge. it really is about trying to solve problems. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, but i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> sounds great, doesn't it? only one problem, th
serious consequences for the entire economy. a lot of details here and they are coming up inside fox report. well, just hours remain in what is expected to be the biggest online shopping day ever. the research firm core score predicts americans will spend $1.5 billion online today alone this cyber monday. that's up 20% from last year. the national retail federation reports the average holiday shopper spent $423 this weekend in stores and online. total spending an estimated $59 billion. cheryl casone live from the fox business network with us tonight. cheryl, that's a big shot in the army for the economy. isn't it? >> it certainly is, shepard. we are seeing an allot of interest in online shopping today. initial numbers into fox business about how many people are out there spending this, today cyber monday. this is going to be already the biggest cyber monday ever when it comes to sales or revenues for the nation's he biggest retailers. number one amazon.com. number two wal-mart. 122 million people shopping today on web sites with the estimate looks like at this point we are going to b
and it is going to take all of us working together because it would damage this economy if we have this kind of huge tax increase. but our democratic colleagues, all they want to talk about is, more taxes, more taxes, more revenue. they will not telling us where the money is going? they're not assuring that the money will be used to pay down the debt like it is suggested. so we need to see those numbers, what they planned, before any discussion is appropriate it seems to me. martha: you know, i mean, does take it from both sides. if you look at the republican side, basically they want to see cuts in spending and real entitlement reform and perhaps revenue that comes from the relief of some loopholes that are out there so that, bob corker i know has suggested maybe there be a $50,000 cap on the amount of deductions you can take in your taxes. republicans want to get there that way, not by raising any rates, correct? does that stand steady, that thought? >> i think that's a lot, where a lot of our members are. if you can simplify the tax code. make it more flat, more like a flat tax. eliminate
in the economy. republicans couldn't agree more about that, which is why the proposal the president spoke forward to solve the cliff raises taxes on how must a million small businesses who employ 25% of the workforce. ernst & young has been a study that if the president's proposal went into effect to raise taxes on small businesses that they are, they will cost us us over 700,000 jobs, reduced take-home pay by 2% and reduce economic growth by 1.3%. so you've got a lot of analysis out there, lots of economy seem that the president is reposting to do would hurt jobs and the economy, which is again ironic in that the presidentonly solution right now to solve our fiscal cliff issue is to raise taxes. in 2010 we had the same debate. the president said he shouldn't raise taxes in the middle of a weak economy. at that time, economic growth was 2.4%. this year, 2012, the same number is 1.8%. the economy is slower and weaker than it was in 2010 when the president says you shouldn't raise taxes in the middle of a weak economy. we believe the president has got me. it can't be on the people who create jobs i
which means fewer jobs and that can drag our entire economy down. now, the good news is, there's a better option. right now, as we speak, congress can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. everybody's. and that means that 98% of americans and 97% of small businesses wouldn't see their income tacks go up by a single dime. 98% of americans, 97% of small businesses would not see their income tacks go up by a single dime. even the wealthiest americans would still get a tax cut on the first $250,000 of their income. so it's not like folks who make more than 250 aren't getting a tax break, too. they are getting a tax break on the first 250 just like everybody else. families and small businesses would, therefore, be able to enjoy some peace of mind heading into christmas and heading into the new year. and it would give us more time than next year to work together on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way, including asking the wealthiest americans to pay a little more so w
of these mom and pop shops could tell us a lot about the entire economy. we'll take look into the future. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] dayquil doesn't treat that. huh? [ male announcer ] alka-seltzer plus rushes relief to all your worst cold symptoms, plus it relieves your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. hurry in this saturday and sunday for great deals. likehe lucid by lg, free. or the galaxy nexus by samsung, free. this weekend, get the best deals on the best devices on the best network. exclusively at verizon. >> heather: today is small business saturday. even president obama taking parted, taking his daughters to an independent bookstore in arlington, virginia today. this is why, small businesses are so important to our nation's economy. take a look at these numbers.
to a president with a failed economy, horrible unemployment numbers and shouldn't have been that difficult. >> and the republicans do revert back and try and say that we should try to get everyone get along and that wasn't president obama's approach. >> what i've learned from the results of this election is if i was somebody trying to get mitt romney elected tell the biography, this is one of the best biographies and resume's to return for president, i would have spent time even if it goes over a guy like mine's head, tell us about the companies and things you've done for people. and in the 30's, people were wondering you, how are you going to support four kids, and you found time to be a bishop in a church. and yes, the word mormon may have come up. >> and they broke the rule, you define yourself positively first, they allowed the obama people to define them for months, why they didn't put on the bio spot for me one of the greatest questions in politics. >> because the buyo spot. >> do you agree? >> absolutely right. and he has a great resume', but that's not what was going to win the ele
to invest in the economy to grow it back up to where we got it now? i think there's some fundamentals here in place that the republicans just seem to push right aside and say you got to go to entitlements. if this country goes to entitlements and makes make changes t will be as if they won the election and democrats didn't. appreciate your time. >>> remember to answer tonight's question. share your thoughts on twitter. we want to know what you think. >>> coming up, the publicity tour to cut entitlements instead of their own welfare. e.j. dionne will join me. stay with us. a lot coming up. quicken loans p. quicken loans understood the details and guided me through every step of the process. i know wherever the military sends me, i can depend on quicken loans. >>> coming up, corporate ceos want the middle class to bare the burden for deficit reduction. i'll talk to e.j. dionne next. >>> fox news can't handle the truth when a journalist calls out the network for hyping the benghazi attack. he got cut off. >>> and democrats are beating republicans at their own game when it comes to super pacs.
of republicans in congress. >> now, dana, when you look at the data out today, it shows the economy heading in the right direction. consumer confidence at a four-year high. home prices increased for six straight months. then when you hear some of the small business owners who met with the president today, they were very vocal in their support of what he's doing. let me show some of what was said after the meeting by some of the small business owners. >> i was very encouraged by the meeting. i felt the president, you know, he really delivered a message of confidence. >> i'm real enthusiastic about president obama and what he's done. >> saying that tax breaks for the rich drive consumers lower down to spend is like saying you can jumpstart -- you can start your car by pouring gasoline on the hood. >> now, soon behind those speakers they'll be negotiating in the west wing. does this work? will this help the president at the negotiating table with the opposition, the republican leadership? >> the opposition responds only to strengths. so to the extent it boosts his numbers for his policy in the
the economy in gaza as well. gregg: general jack keane who advised hillary clinton, thanks very much. >> happy thanksgiving, gregg. gregg: you too, sir. ainsley: thanks, greging. we're now getting new reaction from jesse jackson jr. stepping down. we will have all those details. gregg: and workers protesting at the los angeles international airport. the busiest travel day of the year, why the unions are now choosing this time to flex its muscle. >> happy thanksgiving, i love you, happy new year, and i'll be home soon. god bless. go, big red. gregg: developing right now in "america's newsroom," the bbc getting a new boss, tapping tony hall to head the british television network. he is the current chief executive of the royal opera house. >>> former french president nicolas sarkozy heads to court answering questions about suspicions he illegally accepted donations from france's richest woman to fund his 2007 election. he denies the allegations. >>> and the national park service says the statue of liberty, ellis island, both will not reopen to visit thers year. those sites have been closed for cl
are not spread across the board. the economy would take a hit of $500 billion, probably sending the country back boo recession. i get what the white house is saying and what people like patty murray are saying about how we should negotiate this and whether it's a cliff or a slope. >> it's a financial cliff claven. >> slope. >> i think even if it is a slope, if we go over the fiscal slope, it will do a lot of damage. >> right it could -- the markets will react, freak out. >> that's where the damage will be done. >> i love politico, a growing block of emboldened emboldened liberals. [ screaming ] >> say they're not afraid to watch defense spending get gouged. [ scream ] >> stephanie: if republicans captain see their way toward additional revenues then we're better off going over the cliff and readdressing this with a better congress in january. >> it's the republicans holding the country hostage. >> they're saying it's more of a slope where the economic effects will be handled gradually. we're going to have a whole new congress. >> more democrats. >> we have the technology. we can make them better
cut for high-income earners on the economy. there is this supposition, in fact i would call it bedrock republican philosophy economically speaking if you cut rates for top earners it benefits gdp. i will point to everybody for consideration a chart by the david leanhart of the "new york times" that shows what happens when you cut the top income tax rates. it doesn't help gdp. in fact, it falls. explain to me why republicans keep insisting on this fact when it doesn't appear at least to be true? >> well, the basic idea is that if you get to keep more of the rewards for each hour you work you'll work more hours or a little harder or be more likely to start a business. that's not a crazy idea on its face. in fact, it's probably right. the real question, though, is, is it a bigger effect or small effect? so republicans claim time and again this is a huge effect. democrats often claims it's a small effect. in the language of economics this is an argument about elast tisty. like my colleagues here go out and try to measure this. it's a difficult concept to measure. but that's basically the i
regardless of what it means for jobs, or the economy. >>> coming up here, the it's top economic adviser alan krueger. clashes in cairo today, more protests in tahrir square against egypt's president morsi. we'll have a live report. move over george clooney the on yan's kim junge un the sexiest man alive and beijing doesn't get the joke. good day, i'm andrea mitchell live in washington. no joke today on capitol hill. ambassador susan rice's attempt to clear the air with republicans over benghazi did not work as the white house had hoped. senators mccain, ayotte and graham say they have more questions than they had before rice's comments about benghazi. >> we are significantly troubled by many of the answers that we got and some that we didn't get it. >> if you don't know what happened just say you don't know what happened. people can push you to give explanations and you can say i don't want to give bad information. >> that's troubling to me as well, why she wouldn't have asked, i'm the person that doesn't know anything about this, i'm going on every single show. >> joining me now for our dai
to their constituencies that raising taxes on the 2% is not somehow indicting or challenging or messing with the economies of most of their base. i mean, we've got to disassociate the lobbyists and different wealthy interests that support and fund someone like grover norquist and which kind of the money and politics theme we always talk about here. we've got to -- the republicans have got to divorce that from their actual constituency. those folks in the red state who actually use a lot of federal support to exist and subsist. and the republicans have got to articulate that message to their constituents. otherwise, they're still going to have monied interests dominating the platform of their party. >> professor james peterson, david corn, thank you both. >>> next, john mccain continues his crusade for the truth about what happened on the sunday talk shows. stay with us on this snowy afternoon. >> so you were wrong about libya. >> i don't think i was wrong about libya at all. >> yes, i do. i know you were. >> no, i was not. >> i snknow you were. anncr: some politicians seem to think medicare and... social
president obama's deep cuts will have a deep effect to our economy. he used the word dwast stating. snowing this how could anyone support depleting another $1.8 billion from an already stretched budget? president obama's climate chief defended the green fleet by arguing even a dollar rise in gasoline prices would cost d.o.d. $30 billion. believe my good friend, the senator from colorado said essentially the same thing. i agree with that. if every $1 rise in gas prices cost $30 million, a $27 increase would add up to about $660 million so that argument falls completely flat in realizing the economic angle is a political hoozer the obama administration has tried to say it's about national security in getting off of foreign oil. that's where i want to get. i spent several years as chairman of the environment and public works committee and several years as the ranking member. all during that time people keep saying the one thing we all agree on is we need to be off of foreign oil. we need not to be dependent upon the middle east. and yet right now we know and no one is going to refute this fact
economy and hurt job creation in our country. this is not good for our country. as simple as that and the president understands it. >> they're saying president needs to get in there, needs to negotiate with democrats into line if necessary. is that not happening. are you hearing congresswoman schwartz, from the president as all? >> let me say the administration is keenly interested in working with the senate and the house to get this done. the fact that the president is out and sulactually out in my district on friday morning talking to people what about is at stake for this country, for their families and the nation is something very important for him to be doing. always engaging the voters, the public is an important thing to do. and at the same time we should be and are having broad discussions about how we move forward. what we really need is we need republican leadership. just quoted them, mitch mcconnell and john boehner, to actually be sitting down and saying, look, there are places where we do agree. let's start where we agree. let's begin to have that discussion.
rates which guess what, worked pretty darn well for the economy when clinton was president. >> i was surprised that david plouffe would bring up the idea of the grand bargain in the lame duck session of the congress. i think it's about revenue. this is about the legislation that they put in place about to expire after it was extended in the last lame duck session of the congress two years ago. and that was a two for one. one year of unemployment extension for two years of the bush tax cuts to take us to where we are right now. it seems to me there's a little bit too much wiggle room on the part of the white house to start talking about a granted bargain and chipping away at medicare and medicaid when you don't have to. now, do you read it that way? >> absolutely. and remember, this congress is worse than the one that's coming in. we're going to have a strength in hand in the senate and the house is actually even going to be a little bit better with more democrats and 11 of the worst republicans lost their re-election. so i think you know, it's ridiculous to me that they should be
. i am glad that the people that are in economy party on capitol hill have hearts as big as a montana sky because i'm sure they said, hey, it's cool. we all make mistakes. all of us on capitol hill, we all make mistakes from time to time and it's cool. so how did this work out after she said she was sorry? >> there's still another chance. ambassador susan rice is heading back to capitol hill today. >> i want to know what happened. >> well, i will tell you. she continued to defend her response on september 11th attack on the u.s. consulate in benghazi as a top pick to replace secretary of state hillary clinton. rice faces sort of an uphill battle because she failed to win over her harshest republican critics yesterday. >> i don't think it's an uphill battle. >> unless you want to be secretary of state for greenvil greenville, south carolina or mesa -- >> she requested this meeting was with specifically senators lindsey graham, kelly ayotte and -- >> they were upset. john mccain over the weekend. >> john mccain backed up. >> so it's really cool when she said i'm sorry. >> she did the br
economy at the most important time of the year for retail stores. as the president uses similar scare tactics to bully republicans into a deal press secretary jay carney today made clear where the president himself simply refuses to compromise. >> there are issues that need to be resolved that we have been very clear about, both the presence interest and willingness to compromise, but also his clear insistence that he will not sign an extension of bush era tax cuts for the top 2% lou: a congressional budget office analysis shows that allowing the bush tax cuts to expire on upper income americans would generate approximately $82 billion a year or enough to run the government for eight and a half days. eight and a half days. meanwhile, the list of republicans who are reversing themselves on their anti-tax pledges is growing. former gang of six member publicly broke ranks last week after fellow gang member defected from norquist in july when he agreed to a tax increases in exchange for a grand bargain on the deficit. the other republicaa gang member, senator mike ray powell reportedly in
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